and once again, not a single word about the rise of alternatives that will likely hurt reddit much more deeply longer term than the initial, but vitally important, protest.
at this point, not including analysis of the alternatives in any reddit reporting is journalistic malfeasance (or intentional, malicious debate scoping). smh.
I think that’s a fair take that’s likely to happen. It really depends now on what Reddit does to try to normalize things or blow things up more. I think if they try to just rebuild relationships with their new group of users, they may survive.
But they also seem equally as likely to find a new way to screw themselves over…
TechCrunch notes that the majority of Reddit’s turmoil in holdings occurred last year and this most recent valuation only accounts for the worth of the company’s holdings up to May 31.
That’s before the protest was even started, I would like to know how the value is after (that is now).
The reality is that unless you have immense, immense scale (i.e., Facebook, Instagram, YouTube, LinkedIn), making money off social media is impossible. Twitter barely made any money before Elon Musk took it over, and it’s making less now.
Reddit is pseudo-anonymous too and is harder to monetize, because high ad rates come from being able to identify your users.
This explains the spez iron boot. The business is in a lot of trouble and he’s concerned about his job and the jobs of everyone around him. Ironically, the iron boot is making the whole situation worse. Because spez isn’t very good at strategy. Often, bankers are appeased when a business takes bold decisions to cut things. But in this case, it has only revealed what a fragile business Reddit has, from a Wall Street perspective, anyway. Associating himself with Elon Musk is absolutely suicide after that fool got taken for billions in the Twitter sale and has only damaged it further since then. But like I said, not very strategic there Mr spez…
I remember reading that reddit went on a hiring spree and they like multiplied their workforce during the pandemic. I heard some speculation that this API change was about that, because they now have to make ends meet somehow or at least convince the investors that they are doing something. They invested and expected further growth and the pandemic tech boom didn’t last forever. One miscalculation leads to another.
Impact is already more than evident through search results. Google has had to tweak their search functions because of this and Microsoft pulled out from Minecraft subreddit, and both made sure to announce to the world that it’s because of spez and the protest.
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and once again, not a single word about the rise of alternatives that will likely hurt reddit much more deeply longer term than the initial, but vitally important, protest.
at this point, not including analysis of the alternatives in any reddit reporting is journalistic malfeasance (or intentional, malicious debate scoping). smh.
For those who didn’t read the article, important note.
The valuation decrease was as of May 31.
It wasn’t even after the Reddit apocalypse! What is going to happen next?
deleted by creator
I think that’s a fair take that’s likely to happen. It really depends now on what Reddit does to try to normalize things or blow things up more. I think if they try to just rebuild relationships with their new group of users, they may survive.
But they also seem equally as likely to find a new way to screw themselves over…
deleted by creator
I’m sorry for people losing money because they believed Spaz’s “This will blow over.” Not sorry to see Reddit tanking.
Now that’s poggers
That’s RIPBOZO
That’s before the protest was even started, I would like to know how the value is after (that is now).
The reality is that unless you have immense, immense scale (i.e., Facebook, Instagram, YouTube, LinkedIn), making money off social media is impossible. Twitter barely made any money before Elon Musk took it over, and it’s making less now.
Reddit is pseudo-anonymous too and is harder to monetize, because high ad rates come from being able to identify your users.
Where do you get the idea reddit is not as big as Instagram? It has just as much traffic as wikipedia and Amazon in the U.S.
deleted by creator
This explains the spez iron boot. The business is in a lot of trouble and he’s concerned about his job and the jobs of everyone around him. Ironically, the iron boot is making the whole situation worse. Because spez isn’t very good at strategy. Often, bankers are appeased when a business takes bold decisions to cut things. But in this case, it has only revealed what a fragile business Reddit has, from a Wall Street perspective, anyway. Associating himself with Elon Musk is absolutely suicide after that fool got taken for billions in the Twitter sale and has only damaged it further since then. But like I said, not very strategic there Mr spez…
I anxiously await the day where a news headline mentions Reddit’s IPO be postponed, delayed, or canceled due to a loss of investor confidence.
I remember reading that reddit went on a hiring spree and they like multiplied their workforce during the pandemic. I heard some speculation that this API change was about that, because they now have to make ends meet somehow or at least convince the investors that they are doing something. They invested and expected further growth and the pandemic tech boom didn’t last forever. One miscalculation leads to another.
Fascinating. Should this be legit, this is solid proof for the protest having a tangible financial impact, right?
Impact is already more than evident through search results. Google has had to tweak their search functions because of this and Microsoft pulled out from Minecraft subreddit, and both made sure to announce to the world that it’s because of spez and the protest.
I would agree. injects the poison more deeply than it would have otherwise gone.
doing something > just complaining
Nope, this is only though May 31st, per the article.
Reddit was already bleeding value and Spez went on a panicked power trip. The true Musk way.